Facebook WhatsApp Salt Lake County Sheriff Search and Rescue crews respond to the top of Millcreek Canyon where four skiers died in an avalanche Saturday, Feb. 6, 2021, near Salt Lake City. Four other skiers were injured, authorities said. The Unified Police Department told local media that it was alerted to the avalanche about 11:40 a.m. after receiving a faint distress call from an avalanche beacon in the canyon. The skier-triggered avalanche swept up eight people in their early twenties to late thirties who were in two groups touring the backcountry, Unified Police Sgt. Melody Cutler told the Salt Lake Tribune. Twitter TAGS Pinterest Local NewsUS News WhatsApp Utah police: Avalanche killed 4 local backcountry skiers Facebook By Digital AIM Web Support – February 8, 2021 Previous articleCalifornia Pizza Kitchen Spreads the Love on Valentine’s Day by Bringing Back Its Popular Heart-shaped Pizza, Sweet Deal for Two Promotion and Sweepstakes, and MoreNext articlePOLL ALERT: Kansas out of Top 25 for 1st time in 12 years; Gonzaga, Baylor still 1-2; Michigan up to 3, then Ohio State Digital AIM Web Support Twitter Pinterest
Related Articles Subscribe Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Eliminating ‘Redundancy and Inconsistency’ in Nonbank Regulation Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Previous: Forbearance Plan Removals Could Increase in January Next: Brandon McGee Joins BSI Financial as VP Data Provider Black Knight to Acquire Top of Mind 2 days ago 2021-01-04 Christina Hughes Babb About Author: Phil Hall The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago A new report published by the Urban Institute’s Housing Finance Policy Center calling for a re-examination of how federal regulators oversee nonbank mortgage servicers.The report, titled “Improving the Safety and Soundness of Nonbank Mortgage Servicers Will Require More Than Prudential Regulation,” challenges recommendations made in October by the Conference of State Bank Supervisors (CSBS), which proposed new prudential regulatory standards. The CSBS report advocated for a stronger role by state regulators over this sector.The Urban Institute report questioned the CSBS’s emphasis on the states by questioning if it would increase the redundancies and inconsistencies in the regulatory environment.“Nonbank regulation should be structured in a manner that not only keeps the system safe and sound but maximizes efficiency by eliminating redundancy and consistency,” stated the report, authored by Housing Finance Policy Center VP Laurie Goodman and Senior Research Associate Karan Kaul. “A fragmented regulatory regime that includes the federal government, states, Fannie Mae, Freddie Mac, and Ginnie Mae is not conducive the achieving those outcomes. Additionally, given that the CSBS’s proposed capital and liquidity requirements are modeled after Federal Housing Finance Agency (FHFA) requirements, it is unclear how applying the same standards at the state level would improve safety materially.”The report pointed out that Fannie Mae, Freddie Mac, and Ginnie Mae already have a “pseudo-regulatory” infrastructure that oversees nonbank servicers, while the servicers are mandated to provide data to the agencies on all levels of loan activity along with quarterly reports detailing their financial health.“This close engagement is much more effective than simply setting minimum capital and liquidity standards because it allows the agencies to identify problems early and take corrective action,” the report said.The report also raised the question of whether the CSBS proposal offered a solution that was not attached to a pressing problem, remarking that nonbanks sell almost all of their production to the federal agencies and, as a result, do not burden themselves with credit risk.“The real risk they face is the timing delay between the payment of delinquent principal, interest, taxes, and insurance to relevant parties and the reimbursement of those advances by the GSEs and the FHA,” the report continued. “The GSEs reimburse after loans become four months delinquent, but the FHA does not do so until the loan is resolved through a short sale or foreclosure, a process that can take years. If there is a large increase in delinquencies that forces nonbanks to temporarily advance more cash than they had anticipated, the result can be a liquidity crunch.”The report proposed that the “most effective way to prevent future liquidity crises in the nonbank servicer sector” was to expand Federal Home Loan Bank (FHLB) membership to nonbanks, thus giving them access to emergency federal assistance that is available to bank depositories.“Paired with prudential regulation at the federal level, FHLB membership would give nonbanks much-needed access to stable federal funds through the cycle and significantly mitigate the perpetual liquidity risks the sector faces,” the report said. Home / Daily Dose / Eliminating ‘Redundancy and Inconsistency’ in Nonbank Regulation January 4, 2021 946 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago
Pinterest Google+ Previous articleCouncillor opposes Irish Water taking over business accountsNext articleCalls for CFP reform as EU fishing deal is assessed in Donegal admin Facebook Twitter Homepage BannerNews Man arrested on suspicion of drugs and criminal property offences in Derry WhatsApp Pinterest RELATED ARTICLESMORE FROM AUTHOR The Fine Gael MEP Mairead McGuinness says she will now seek a re-election as a vice president of the European Parliament.Last night the Midlands North-West MEP lost the vote to become the EPP candidate for next year’s European Parliament presidential elections.Former EU Commissioner from Italy Antonio Tajani will run for the position.Ms McGuinness says her work’s not over yet:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/12/mcguinness1.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. 365 additional cases of Covid-19 in Republic Twitter WhatsApp 75 positive cases of Covid confirmed in North Main Evening News, Sport and Obituaries Tuesday May 25th Facebook MEP McGuinness will seek re-election as vice president after losing out on becoming EPP candidate By admin – December 14, 2016 Further drop in people receiving PUP in Donegal Google+ Gardai continue to investigate Kilmacrennan fire
Harvard University today (April 23) announced that Sumner M. Redstone has contributed $1 million to be used by Harvard College and Harvard Law School. This contribution by Redstone, a graduate of both Schools, will establish scholarships for 20 Redstone Scholars to attend Harvard College for the 2010–11 academic year. Additionally, Redstone’s gift will furnish funding for 10 postgraduate public service fellowships at Harvard Law School.The Sumner M. Redstone Undergraduate Scholarship Fund will provide financial assistance to deserving men and women at Harvard College. The fund will support undergraduates from a broad range of socioeconomic backgrounds who demonstrate a commitment to public service reflecting the civic ideals of President John F. Kennedy.“I am deeply grateful to Mr. Redstone for this generous gift. It will help ensure that Harvard College is accessible to students who hold service to the public good as a fundamental value,” said Michael D. Smith, dean of the Faculty of Arts and Sciences and John H. Finley Jr. Professor of Engineering and Applied Sciences. “These immediate-use scholarships support the College’s strong commitment to creating a diverse and outstanding undergraduate class each year.”At Harvard Law School, the Redstone Fellowships will support 10 students who wish to pursue postgraduate public service.Martha Minow, dean of the faculty and Jeremiah Smith Jr. Professor of Law, said, “In the 50 years since John F. Kennedy inspired a generation with his call to service, Sumner Redstone has steadfastly answered that call throughout the course of his extraordinary career and as a visionary leader in our society. Now, with these fellowships, he shares his inspiration by supporting the newest generation of lawyers who wish to make a difference in the lives of their fellow human beings. I am enormously grateful for his vision and leadership. The 10 recipients of his generosity will magnify his contribution many times over, by helping untold numbers of people. As President Kennedy’s brother Robert said, each time a person acts to improve the lot of others, ‘he sends forth a tiny ripple of hope, and crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance.’”Redstone said, “As a graduate of both Harvard College and Harvard Law School, I have experienced firsthand the culture of excellence and public service that is a fundamental tradition of these great schools. Harvard’s longstanding commitment to leadership through enlightenment and engagement provides an outstanding foundation for the next generation of leaders for the U.S. and around the world.“As the 50th anniversary of John F. Kennedy’s presidency nears, we reflect on how his influence sparked an era of optimism, activism, and national service. I have established these scholarships to help celebrate President Kennedy’s spirit by fostering a focus on education and a renewed commitment to public service. I am honored to have the opportunity to recognize and encourage these admirable young men and women.”The recipients of the scholarships announced today will be chosen based on criteria that include a commitment to public service that reflects President Kennedy’s civic ideals.Redstone has recently awarded more than $100 million in charitable grants to fund initiatives in the United States and abroad. His contributions have funded research and patient care advancements in cancer, burn recovery, and mental health at several major nonprofit health care organizations, and have provided support for groups that care for impoverished children in Southeast Asia.Redstone has served as the executive chairman of the board of directors of Viacom Inc. since Jan. 1, 2006. He also serves as executive chairman of the board of CBS Corp. He was chief executive officer of the former Viacom Inc. from 1996 to 2005 and chairman of the board of the former Viacom Inc. since 1986. He has also been chairman of the board of National Amusements Inc., Viacom’s controlling stockholder, since 1986, its chief executive officer since 1967, and also served as its president from 1967 through 1999. Redstone served as the first chairman of the board of the National Association of Theatre Owners and is currently a member of its executive committee. He has been a frequent lecturer at universities, including Harvard Law School, Boston University Law School, and Brandeis University. Redstone graduated from Harvard University in 1944 and received an LL.B. from Harvard Law School in 1947. Upon graduation, he served as law secretary with the U.S. Court of Appeals and then as a special assistant to the U.S. Attorney General. Redstone served in the Military Intelligence Division during World War II. While a student at Harvard, he was selected to join a special intelligence group whose mission was to break Japan’s high-level military and diplomatic codes. Redstone received, among other honors, two commendations from the Military Intelligence Division in recognition of his service, contribution, and devotion to duty, and the Army Commendation Award.
For me, the takeaway was clear: In terms of immersion, convenience, skill-building and sheer downhill fun-factor, park riding is hard to beat. But parks streamline the process: A day pass brings all the gravity-fueled bliss my legs can stand. This small family-owned ski resort delivers an unexpected punch with its compact but powerhouse bike park. Situated around 35 miles northwest of Harrisonburg in the Alleghany Mountains, the park’s seven trails—which can be combined to form routes more than 2 miles long—are the result of a partnership between Trek and Gravity Logic. They are serviced by a quad lift and offer 500 feet of vertical drop. Trails were custom-designed to promote skill-building and progression. They are punctuated by an array of fantastic wooden bridges and features, tabletops, gaps, drops, and berms. If you’re looking for more smooth-riding flow than rooty, rocky, and technical, this is your jam. Day passes from $38. Pass with bike rental from $95. This northern Pa. ski resort has been recognized by mountain biking website MTB Parks as one of the East Coast’s top-five resort bike parks for four of the past five years. Despite a diminutive summit height of 1,540 feet, Blue Mountain compensates for its lack of elevation with 25 top-notch trails that drop 1,100 vertical feet and make the most of the mountain. Beginner-friendly green runs segue progressive-style into steep, twisty, and rocky intermediate and advanced routes like Formula, Jambalaya, Moto, Miles of Smiles, and OCS that showcase the natural terrain. In addition to dual slalom runs and tons of wooden features, Ewok Village and the newly added El Camino bring jumps, berms and drops. Tip: The resort offers cheap campsites close to the lift. Day passes, $40. Bike rentals from $99. Bike trips with my 13-year-old son had atrophied to an average of zero per month. Desperate for a solution, I turned to Bryce. bryceresort.com Bryce Resort, Va. Blue Mountain, Pa. skibluemt.com By the end of the day he’d put in at least 25 miles of (comparatively) hardcore gravity riding. Better still, he said he couldn’t wait to come back and “work on getting better.” snowshoemtn.com With thousands of miles of killer MTB trails crisscrossing the mountains of the Southeast and Mid-Atlantic, paying $35-plus to shred in a resort bike park can be perplexing for old school riders and neophytes alike. I was formerly of this camp. But a trip to Virginia’s Bryce Resort last year led to a conversion: I now consider myself an Apostle of Park Riding. How did it happen? Bryce Bike Park’s summer race series welcomes riders of all ages and skill levels the second Saturday of each month throughout the season. / photo by Andrew DeVier-Scott “It’ll be just like snowboarding,” I promised, confronted by his reluctance and suspicion. “We’ll take the lift up the mountain to the trailhead, drop in, ride a professionally manicured route with giant bank curves and more than 50 jumps to the bottom, then hit repeat.” Snowshoe Resort, W.Va. The Beast of the East boasts more than 100 miles of world-class biking trails and will host the 2019 UCI Mountain Biking World Championships this September. The park offers a whopping 1,500 vertical feet of descent. Its 40 routes were designed by trail-building titan Gravity Logic and cater to everyone from first time riders to U.S. national downhill champions like Neko Mulally. High-speed quad lifts bring swift rides to trailheads. Try the smooth and flowy Skyline, which is 2.9 miles long and features massive berms and more than 50 jumps. Take note: Snowshoe is located in a very rural area, so those traveling from any distance will likely want to stay. Plenty of lodging is available atop the mountain or at the nearby Cass Scenic Railroad State Park. Day passes, $45. Bike rentals from $40. Lift-assisted MTB parks bring convenient, immersive thrills for riders of all ability levels. Here are five of the region’s best. Following the Bryce visit I looked for more great regional rides. What follows are five of the best the Blue Ridge and surrounding mountain ranges have to offer. beechmountainresort.com He remained dubious going into the first run. Then came a chute into a give-or-take 10-foot-high berm, followed by a tabletop that sent his Specialized gliding about two feet through the air and into a butter-smooth downhill landing. The raw joy of what could only have been an inadvertent “Yee-ha!” made my heart sing. The bottom found him pedaling hard to the lift. Trails range in difficulty from beginner to pro-level hard, tend to be crafted by world-class professionals, and appear almost neurotically well-maintained. Amenities are close at hand. Jumps and nifty wooden features abound. Trails begin atop high peaks and typically deliver 1-2 miles of pedal-free riding. While a cross-country day at my go-to spot—i.e. Massanutten’s Western Slope—usually brings about 18-20 miles of riding, I spend 70 percent of my time pedaling up hills. Billed as the highest lift-assisted bike park east of the Mississippi, this northwestern N.C. ride center brings 5,500-foot summits and some of the best downhill runs in the Southeast. Accordingly, it hosted USA Cycling National Championships in 2011 and 2012. Ten trails of varying ability levels wind through forests alongside the resort’s ski slopes—the longest of which is about 1.5 miles. Routes offer everything from ultra-advanced technical sections with loads of rocks, drops and multiple lines, to a terrain park and buttery beginner course. Cross-country and enduro fans will enjoy the adjacent Emerald Outback area. Hosting collegiate national mountain biking championships in 2013 and 2014, Beech is home to a 7-mile loop of exquisite single- and double-track. Day passes from $38. Bike rentals from $135. Windrock Bike Park, Tenn. Beech Mountain Resort, N.C. The only park on the list that doesn’t have a lift gets the nod for being one of the most interesting new operations on the East Coast. Co-owned by Neko Mulally, Windrock was purpose-built for enthusiasts by enthusiasts—and subsequently brings 16 of the rawest and gnarliest cross-country and downhill trails in the region. Made infamous by opening with difficulty levels that started at advanced and continued to extreme, the 550-acre park now offers two flowy, machine-built beginner routes, with another three for intermediates. Vertical drop clocks in at an impressive 2,150 feet from a 3,200-foot summit. Weekend van shuttles carry riders to mountaintop trailheads. Camping is available onsite. Weekend passes with unlimited shuttle: $35. Bike rentals: $130. windrockbikepark.com More Biking in the Blue Ridge from our September Bike Issue Here
Over the past decade, following the financial crisis, low interest rates and investor risk aversion fueled large core deposit balances across the banking industry. As interest rates have risen, most credit unions are starting to re-evaluate their deposit funding models. With increased competition, technological changes and greater loan demand, credit unions are seeking out new deposit sources to achieve their strategic goals. With these challenges and opportunities, it is time to rethink the stigma of wholesale funding. When used appropriately, wholesale funding can be an effective and stable source of deposit funding.As a refresher, the Great Recession of 2008 brought on the need for regulatory review of how credit unions fund their balance sheets. Through Congressional action (The Dodd Frank Wall Street Reform and Consumer Protection Act), the FDIC was required to conduct a study on the effects of brokered deposits. The “Core and Brokered Deposit” study focused on the role of brokered deposits in the lead up to the Great Recession. The common theme was that troubled credit unions were not utilizing diversified funding sources and were over-reliant on brokered deposits. This enabled rapid loan growth in higher risk assets. The rapid deterioration of asset value (sub-prime housing crisis), coupled with the depth of the recession and the dislocation of inter FI lending exposed the vulnerability of the banking system. The theme coming out of this study was that ALL wholesale/brokered deposits were considered “hot money,” which in times of stress can fuel instability.A major concern with this line of thinking is that it takes a “one-size fits all” approach. The primary focus has been on the “brokered deposit,” and not as much on the source, the “deposit broker.” There are numerous sources that a credit union can take advantage of when receiving brokered deposits and they are not all the same. A few examples of brokered deposit sources include Referral Services, Broker-Dealers, Money Managers, etc. These are considered brokered deposits, but behave differently. For example, in the case of referral services, they typically match advisors or depositors with credit unions. They have a limited relationship with the underlying depositor, thus possess limited knowledge on the depositors investment policy, deposit stability or the impact of stressed situations on the deposits. This differs greatly from that of a Money Manager. The Money Manager is usually involved in establishing a cash flow plan with the depositor, then implementing it based on investment objectives.Brokered deposits can be a good complement to traditional funding when utilized in a prudent manner. This starts by taking the time to understand the source behind the deposit. Prior to participating in the brokered deposit market, an operating plan/template should be constructed outlining rules of engagement, specifically covering the various sources and types of brokered funding, such as:When should brokered funding be utilized?Establishment of concentration limitsDefining the relationship of the deposit broker to the depositorThe deposit broker needs to be vetted to determine their role in the deposit process and ongoing relationship. The more clarity provided at the onset of engagement will help eliminate unexpected surprises during times of stress All in all, brokered funding is an integral part of the deposit market place. It provides stability and fills the voids created during times of volatility in the local depositor base. 9SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,James Lutter D. James (Jim) Lutter is the Senior Vice President of Trading and Operations at PMA Financial Network and PMA Securities where he oversees PMA Funding, a service of both companies … Web: pmafunding.com Details
Keva’s asset allocation (31/12/18)Chart MakerIn its results statement, Keva also said that its board had approved a new five-year strategy on 7 March. The plan focused on strengthening efficiency, developing customer relationships, utilising digitalisation and making preparations for changes in the earnings-related pension sector.Pension reforms currently under discussion in Finland could challenge Keva’s monopoly on public sector provision, with a working group recommending last month that the sector be opened up to competition.Separately, Finnish earnings-related pension fund association TELA provided the bigger picture of how investment returns had affected its members last year.Overall, it said Finnish pension funds oversaw a total of €193.4bn at the end of 2018, with total pension assets having fallen by €6.4bn over the year. The association attributed this decline to weak performance in equity markets.TELA analyst Kimmo Koivurinne said: “The market uncertainty in the last quarter of the year caused the valuations of listed equity investments in particular to fall sharply.” Finland’s largest pension fund suffered a 3% investment loss last year, with the market value of its assets contracting by €1.8bn during 2018.Keva’s assets fell to €50.1bn by the end of December 2018, compared with €51.9bn a year earlier.The fund, which manages local government pensions, said its strongest performing asset classes in 2018 were private equities, with a return of 13.5% and real estate with 7%.CIO Ari Huotari said: “The entire investment year was marked by restlessness, nor can the market events at the end of the year be called rational. “Whereas the markets have begun on a positive note in 2019, the underlying concerns have not in reality disappeared. I think we’ll still see quite considerable market fluctuations also during the current year.”The pension fund’s fixed income investments ended the year with a 1.6% loss, while listed equities lost 10.4%.Keva’s hedge funds allocation made a slim 0.3% return. In an EU tender notice published earlier this month, Keva said it had appointed London-based Albourne Partners to provide hedge fund advisory services.The contract is worth £850,000, and Albourne Partners was the only bidder.The service procured would, Keva said, be used partly to conduct hedge-fund manager selection but also to monitor existing and potential future new relationships, as well as for risk management.The pension fund had 7.6% of its portfolio – approximately €3.8bn – allocated to hedge funds at the end of 2018, according to its annual report.
The Nelson Leafs and Regional District of Central Kootenay recently joined forces to make a major contribution to the Kootenay Lake Hospital Foundation.The two local organizations presented a cheque for $8000 to the KLHF derived from bottles left by the public at RDCK Lakeside Drive Recycling Center and consolidated by the Leaf’s Bottle Depot.The donation was made during a pre-game ceremony at a recent Nelson Leafs hockey game. Mallard’s Source for sports would also like to salute the groups with Team of the Week honours.
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A lion doesn’t have to learn to be a lion. It is born knowing everything it needs to know to be a successful lion. It doesn’t get sent off to lion school to be taught what it means to be a lion or what it needs to do.This is true of all the animals on earth, with the exception of we humans. We are born knowing nothing about what it takes to be a successful human. We are born with none of the collected wisdom of all the humans that have come before us pre-installed; we have to learn it all ourselves.The Easy WayOne way we learn is through the successes and failures of those who have come before us. The things that others have done to lead a successful life provide clues about what beliefs and actions produce the results we might want. And other people’s failures provide lessons about what doesn’t work and things to be avoided.You can read and study the beliefs and actions that lead to success or failure, and you can also observe the people around you to pick up these lessons. Studying success can help you learn what to do, and the studying failures can help you avoid mistakes.The Hard WayBut that isn’t the way we usually learn. We usually learn through our own experiences. The way we often learn is by placing our own hand on the hot stove. We have to see for ourselves why we shouldn’t touch the fire, so we ignore the collected wisdom of the ages and repeat the mistakes ourselves. We get burned.You weren’t the first person to spend more money than you had and found themselves in serious financial trouble, even though we have known for a millennia that this is not the recipe for success.You weren’t the first person to take a salary from the money invested in your new startup only to run out of runway and crash and burn. Lots of entrepreneurs have left a warning, along with a graveyard of good ideas that never made it to market.You absolutely weren’t the first person to ignore your parents warning and fall in with a bad crowd only to find yourself in deeper trouble than you could handle. I wasn’t the first person either, but I did demonstrate some mastery here.You are not the first person to waste a good part of your life fooling around before you stumble upon your real mission later than you wished. Many others have come before you.You are one of the majority of us who have ignored the wisdom and the warnings of those who have come before us and made the mistakes that have brought you whatever wisdom you have accumulated. This is how we learn, and it is your job to share that wisdom with others so they don’t make the same mistakes and so you can shorten their learning curve.Most of what you share will be ignored, and those with whom you share it will set out to repeat your mistakes on their own. But not to worry’ we’ve been repeating this pattern with some success for a long time.